EQS-Adhoc: Porsche Automobil Holding SE: Non-cash effective, expected impairment of the at-equity carrying amounts of the investments in Volkswagen AG and Porsche AG; withdrawal of earnings forecast
EQS-Ad-hoc: Porsche Automobil Holding SE / Key word(s): Forecast Non-cash impairment risk of the at-equity carrying amounts of the investments in Volkswagen AG and Dr. Ing. h.c. F. Porsche AG is expected to lead to an accounting loss in the consolidated financial statements of Porsche Automobil Holding SE;
Withdrawal of the earnings forecast; Non-cash impairment risk of the investment in Dr. Ing. h.c. F. Porsche AG in the annual financial statements of Porsche Automobil Holding SE is expected to lead to an impairment loss Porsche Automobil Holding SE (Porsche SE) is obliged to carry out impairment tests in accordance with the applicable accounting standards. For the impairment tests of the carrying amounts of its investments in Volkswagen AG, Wolfsburg, and Dr. Ing. h.c. F. Porsche AG (Porsche AG), Stuttgart, Porsche SE has so far relied in particular on corporate planning data of these investments. Today, Volkswagen AG has informed Porsche SE that the current planning of Volkswagen AG and Porsche AG is no longer expected to be concluded by 31 December 2024. Consequently, as of now, Porsche SE cannot rely on the results of a current approved plan of Volkswagen AG and Porsche AG for accounting purposes. Against this background, the Management Board of Porsche SE will use for the impairment tests on the carrying amounts of the investments in Volkswagen AG and Porsche AG in particular external analyst expectations. On this basis, the Management Board of Porsche SE currently assumes that the impairment tests to be carried out as of 31 December 2024 on the carrying amounts of the investments in Volkswagen AG and Porsche AG in the consolidated balance sheet of Porsche SE as of 31 December 2024 are likely to result in impairment losses. As a result, the Management Board expects that the group result after tax of Porsche SE for the 2024 financial year will be significantly negative. In light of the expected impairment losses, Porsche SE is therefore withdrawing its current forecast for group result after tax in the range of 2.4 billion euros to 4.4 billion euros for the 2024 financial year. At this point in time, due to among other things the market environment with further increasing uncertainties, lower demand than originally expected on various markets and increasing geopolitical tensions and protectionist tendencies, the effects of the impairment tests as of 31 December 2024 on the carrying amounts of the investments to be recognized at Porsche SE can only be roughly estimated on the basis of preliminary valuation models. For the time being, Porsche SE assumes an impairment of the carrying amount of the investment in Volkswagen AG in the expected range from minus 7 billion euros to minus 20 billion euros and of the carrying amount of the investment in Porsche AG in the expected range from minus 1 billion euros to minus 2 billion euros in the consolidated balance sheet of Porsche SE. Therefore, Porsche SE expects that the values in use for the investments in Volkswagen AG and Porsche AG will continue to be significantly higher than their respective stock market values. A finalization of the impairment tests of Porsche SE can only take place after 31 December 2024, at the earliest when the market parameters and balance sheet data of the investments as of 31 December 2024 and the forecasts of the investments in Volkswagen AG and Porsche AG for the 2025 financial year are available, and thus not before the preparation of the annual and consolidated financial statements of Volkswagen AG and Porsche AG. The expected impairment loss in the consolidated financial statements of Porsche SE in relation to Volkswagen AG will probably not have an impact on the annual financial statements of Porsche SE under German commercial law. The Management Board of Porsche SE assumes that the expected impairment loss in the consolidated financial statements of Porsche SE in relation to Porsche AG will also have an impact on the annual financial statements of Porsche SE under German commercial law, however to a lower extent. Nevertheless, the Management Board of Porsche SE continues to assume that a dividend will be distributed for the 2024 financial year. The expected impairment losses at the level of Porsche SE or the Porsche SE Group will not have a cash effect and will not affect the forecasts communicated by Volkswagen AG and Porsche AG for the 2024 financial year. Porsche SE confirms its forecast for the net debt of the Porsche SE Group as of 31 December 2024, which is expected to be between 5.0 billion euros and 5.5 billion euros. Contact: Karsten Hoeldtke Head of Investor Relations +49-711-911-11023 karsten.hoeldtke@porsche-se.com End of Inside Information
13-Dec-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Porsche Automobil Holding SE |
Porscheplatz 1 | |
70435 Stuttgart | |
Germany | |
Phone: | +49 (0)711 911-11023 |
Fax: | +49 (0)711 911-11819 |
E-mail: | InvestorRelations@porsche-se.com |
Internet: | www.porsche-se.com |
ISIN: | DE000PAH0038, XS2615940215 , XS2643320018, XS2643320109, XS2802891833, XS2802892054 |
WKN: | PAH003 |
Indices: | DAX |
Listed: | Regulated Market in Berlin, Frankfurt (General Standard), Munich, Stuttgart; Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Tradegate Exchange; Luxembourg Stock Exchange |
EQS News ID: | 2051273 |
End of Announcement | EQS News Service |
|
2051273 13-Dec-2024 CET/CEST
Zur besseren Einschätzung der fundamentalen Entwicklung der jeweiligen Unternehmen bietet boersengefluester.de (BGFL) eine Übersicht mit den wesentlichen Kennzahlen zu Umsatz, Ergebnis, Cashflow und Dividende. Sämtliche Angaben werden manuell in unserer Datenbank erfasst – Quelle sind die jeweiligen Geschäftsberichte. Sofern es sich um Schätzungen für künftige Zahlen handelt, stammen sie durchweg von BGFL.
Die wichtigsten Finanzdaten auf einen Blick | ||||||||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | ||
Umsatzerlöse1 | 103,00 | 116,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | |
EBITDA1,2 | 3.583,00 | 4.414,00 | 2.659,00 | 4.573,00 | 4.692,00 | 5.413,00 | 0,00 | |
EBITDA-Marge3 | 3.478,64 | 3.805,17 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | |
EBIT1,4 | 3.500,00 | 4.393,00 | 2.658,00 | 4.572,00 | 4.691,00 | 5.412,00 | 0,00 | |
EBIT-Marge5 | 3.398,06 | 3.787,07 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | |
Jahresüberschuss1 | 3.473,00 | 4.408,00 | 2.624,00 | 4.566,00 | 4.787,00 | 5.096,00 | -6.500,00 | |
Netto-Marge6 | 3.371,85 | 3.800,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | |
Cashflow1,7 | 558,00 | 722,00 | 773,00 | 733,00 | 791,00 | 1.873,00 | 0,00 | |
Ergebnis je Aktie8 | 11,34 | 14,39 | 8,57 | 14,90 | 15,32 | 16,64 | -21,20 | |
Dividende8 | 2,21 | 3,11 | 2,21 | 2,56 | 2,56 | 2,56 | 0,00 |
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de
Wirtschaftsprüfer: Grant Thornton
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INVESTOR-INFORMATIONEN | ||||||
©boersengefluester.de | ||||||
Porsche Auto. Hold. VZ | ||||||
WKN | ISIN | Rechtsform | Börsenwert | IPO | Einschätzung | Plus Code |
PAH003 | DE000PAH0038 | SE | 10.951,50 Mio € | 02.05.1984 | Kaufen | 8FWFR5M3+M2 |
KGV 2025e | KGV 10Y-Ø | BGFL-Ratio | Shiller-KGV | KBV | KCV | KUV |
14,30 | 5,68 | 2,52 | 4,60 | 0,20 | 5,85 | 0,00 |
Dividende '2022 in € |
Dividende '2023 in € |
Dividende '2024e in € |
Div.-Rendite '2024e in % |
2,56 | 2,56 | 0,00 | 0,00% |
Hauptversammlung | Q1-Zahlen | Q2-Zahlen | Q3-Zahlen | Bilanz-PK |
23.05.2025 | 14.05.2025 | 13.08.2025 | 13.11.2024 | 26.03.2025 |
Abstand 60-Tage-Linie | Abstand 200-Tage-Linie | Performance YtD | Kursveränderung 52 Wochen | IPO |
-3,92% | -15,97% | -22,80% | -23,52% | +0,00% |
Auf dem 2013 von Gereon Kruse gegründeten Finanzportal boersengefluester.de dreht sich alles um deutsche Aktien – mit klarem Schwerpunkt auf Nebenwerte. Neben klassischen redaktionellen Beiträgen sticht die Seite insbesondere durch eine Vielzahl an selbst entwickelten Analysetools hervor. Basis sämtlicher Tools ist eine komplett selbst gepflegte Datenbank für mehr als 650 Aktien. Damit erstellt boersengefluester.de Deutschlands größte Gewinn- und Dividendenprognose.